The Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Wednesday, February 26, 2025, arraigned Jude Okoye Chigozie, older brother and ex-manager of Paul and Peter Okoye of the defunct P-Square music group, before Justice A.O. Owoeye of the Federal High Court, sitting in Ikoyi, Lagos. He was arraigned alongside his company,…
Dangote Petroleum Refinery & Petrochemicals has slashed the price of Premium Motor Spirit (PMS), or petrol, for the second time this month. It has cut N65 off the previous price of N890, bringing it down to N825 per litre at the gantry (ex-depot). This follows a N60 reduction on February 1. The ex-depot price has…
The Federal Competition and Consumer Protection Commission (FCCPC) has summoned MultiChoice Nigeria to explain its proposed subscription price increase, set to take effect on March 1, 2025. Exercising its mandate under Sections 32 and 33 of the FCCPA, the FCCPC directed the Chief Executive Officer of MultiChoice Nigeria to attend an investigative hearing at the…
In a significant move to streamline pension management and enhance customer experience, Stanbic IBTC Pension Managers, a prominent Pension Fund Administration firm, has announced the relaunch of its comprehensive suite of self-service options through an informative webinar session recently conducted. This forms part of the company’s ongoing efforts to empower clients by enlightening them on…
Retail lender, Plc posted gross earnings of N59.3 billion for the full year ended December 31, 2023, representing a growth of 3.84% year-on-year. In its audited financials submitted to the NGX Group Limited, the Bank also witnessed improvements across key performance indicators, including a significant appreciation of customer deposits by 23% to N402.9 billion from…
Dangote Petroleum Refinery & Petrochemicals has reduced the cost of its diesel product to N1,020 per litre, down from N1,075 per litre at the gantry price, in an effort to better serve its customers and Nigerians in general. Since it began diesel production in January 2024, the refinery has reduced its diesel price more than…
Presco PLC (Presco or the “Company”), has achieved a significant milestone with the successful issuance of its ₦82,896,000,000 7-year 23.75% senior unsecured fixed rate Series I Bonds under its ₦150 billion bond issuance programme (the “Transaction”) with the Securities and Exchange Commission (“SEC”). Stanbic IBTC Capital Limited (“Stanbic IBTC Capital”) acted as the Lead Issuing House on…
The Federal Government has officially commenced tolling operations on the newly constructed Abuja-Keffi-Akwanga-Makurdi Highway corridor.. The commissioning of toll collection on the 227.2km road project took place on Tuesday, 4th February 2025 at the toll gate in Garaku, Nasarawa State. Speaking at the event, the Honourable Minister of Works, Sen. David Umahi, represented by the…
Lagos State Governor, Mr. Babajide Sanwo-Olu, on Wednesday expressed satisfaction at the level of work on the Phase II of the Adiyan Water Works project. The governor, who showed his excitement after inspecting the ongoing water project said that it is expected to supply Lagos residents with 70 million gallons of water per day after…
Dangote Petroleum Refinery recently achieved a significant milestone by successfully exporting two jet fuel cargoes to Saudi Aramco, the world’s largest oil producer and a leading integrated oil and gas company globally. Saudi Aramco is the official Saudi Arabian Oil Company, which is a majority state-owned petroleum and natural gas company that is the national oil company of Saudi Arabia. President of Dangote Group,…